FBC Holding Inc (FBCD)

[Diogenes of Sinope]

THERE ARE NO FLOWBOARDS/FLOWSAUCERS/SKATEBOARDS!


Why the constant BS??

From the filing:


an agreement with Todd Whanish to purchase his web platform in order to get
involved in the online toy business, catering to artists and the toy industry in general. Current management has, after
examining the data regarding the cost of the necessary portal and related costs and finding that the anticipated gross
margins were less than 8%, discontinued this line of business. Previous management had announced that the Company
had entered into licensing agreements with Sports Technology, Inc. (“Sports Technology”) for the exclusive worldwide
marketing and distribution of all of Sports Technology’s existing intellectual property (“IP”). Sports Technology
represented that among this IP was an agreement with the owners of the Flowboard design and distribution rights
which granted Sports Technology assignable and exclusive rights to marketing and distribution of the Flowboard and
other products and other ancillary rights of usage. Notwithstanding the Company’s previous announcements, and Sports
Technology’s representations, current management found no evidence of an existing agreement between the Company
and Sports Technology assigning such rights, nor has Sports Technology been able to provide the Company with any
documentation that it actually possesses any rights to the IP that it sought to convey to the Company. FBC Holding has
thus terminated all agreements and relationships with Sport Technology and advises its shareholders that Management’s
position is that the company holds no exclusive marketing agreements for the Flowboards